Vietnamese businesses should do their utmost to invest in projects in Laos to ensure positive political, social and economic outcomes, said President Nguyen Minh Triet.
“Investing in Laos means investing in Vietnam,” Triet told a conference held in Ho Chi Minh City on August 31, which aimed to promote investment from Vietnam in its neighbouring country.
Vietnam’s ministries should facilitate investors doing business in Laos, he said at the conference, which was attended by senior officials from both Laos and Vietnam.
Addressing the conference, Lao Deputy Prime Minister Somsavat Lengsavat praised the level of investment from Vietnam in his country.
“Investments from Vietnam, together with assistance from the Vietnamese Government, have made an important contribution to socio-economic development in Laos and have enhanced the Lao people’s living conditions,” he said.
In order to increase investment in Laos, it is necessary to publicise information campaigns on the Lao Government’s policies and procedures on investments amongst Vietnamese investors, said Ho Chi Minh City ’s People’s Committee Chairman Le Hoang Quan.
Further decentralisation in the granting of investment licences should be stepped up in Laos, he said, adding that lowering a number of taxes and duties should be also considered.
At the conference, the Laos Investment Promotion Department gave a presentation on opportunities and the investment environment in Laos, while the Vietnamese Investment Promotion Department talked about Vietnam’s policy on investing abroad.
A number of agreements and Memorandums of Understanding (MoU) between businesses from both countries were also signed. (VNA)
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